| Home > 106th Congressional Bills > H.R. 5585 (ih) To ensure the energy self-sufficiency of the United States by 2010, and for other purposes. [Introduced in House] ...
H.R. 5585 (ih) To ensure the energy self-sufficiency of the United States by 2010, and for other purposes. [Introduced in House] ...
106th CONGRESS 2d Session H. R. 5584 To amend the Internal Revenue Code of 1986 to designate educational empowerment zones in certain low-income areas and to give a tax incentive to attract teachers to work in such areas. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES October 26, 2000 Mr. Towns introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to designate educational empowerment zones in certain low-income areas and to give a tax incentive to attract teachers to work in such areas. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Educational Empowerment Act''. SEC. 2. DESIGNATION OF EDUCATIONAL EMPOWERMENT ZONES. (a) In General.--Chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subchapter: ``Subchapter X--Educational Empowerment Zones ``Sec. 1400E. Designation of educational empowerment zones. ``SEC. 1400E. DESIGNATION OF EDUCATIONAL EMPOWERMENT ZONES. ``(a) Designation.-- ``(1) Educational empowerment zone.--For purposes of this title, the term `educational empowerment zone' means any area-- ``(A) which is nominated by one or more local governments and the State or States in which it is located for designation as an educational empowerment zone (hereinafter in this section referred to as a `nominated area'), and ``(B) which the Secretary of Health and Human Services and the Secretary of Education (hereinafter in this section referred to as the `Secretaries concerned') jointly designate as an educational empowerment zone. ``(2) Number of designations.--The Secretaries concerned may designate not more than 30 nominated areas as educational empowerment zones. ``(3) Areas designated based on degree of poverty, etc.-- Except as otherwise provided in this section, the nominated areas designated as educational empowerment zones under this subsection shall be those nominated areas with the highest average ranking with respect to the criteria described in subsection (c)(3). For purposes of the preceding sentence, an area shall be ranked within each such criterion on the basis of the amount by which the area exceeds such criterion, with the area which exceeds such criterion by the greatest amount given the highest ranking. ``(4) Limitation on designations.-- ``(A) Publication of regulations.--The Secretaries concerned shall prescribe by regulation no later than 4 months after the date of the enactment of this section-- ``(i) the procedures for nominating an area under paragraph (1)(A), ``(ii) the parameters relating to the size and population characteristics of an educational empowerment zone, and ``(iii) the manner in which nominated areas will be evaluated based on the criteria specified in subsection (c). ``(B) Time limitations.--The Secretaries concerned may designate nominated areas as educational empowerment zones only during the 24-month period beginning on the first day of the first month following the month in which the regulations described in subparagraph (A) are prescribed. ``(C) Procedural rules.--The Secretaries concerned shall not make any designation of a nominated area as an educational empowerment zone under paragraph (2) unless-- ``(i) a nomination regarding such area is submitted in such a manner and in such form, and contains such information, as the Secretaries concerned shall by regulation prescribe, and ``(ii) the Secretaries concerned determine that any information furnished is reasonably accurate. ``(5) Nomination process for indian reservations.--For purposes of this subchapter, in the case of a nominated area on an Indian reservation, the reservation governing body (as determined by the Secretary of the Interior) shall be treated as being both the State and local governments with respect to such area. ``(b) Period for Which Designation Is in Effect.--Any designation of an area as an educational empowerment zone shall remain in effect during the period beginning on the date of the designation and ending on the earliest of-- ``(1) December 31, 2005, ``(2) the termination date designated by the State and local governments in their nomination, or ``(3) the date the Secretaries concerned revoke such designation. ``(c) Area and Eligibility Requirements.-- ``(1) In general.--The Secretary of Commerce may designate a nominated area as an educational empowerment zone under subsection (a) only if the area meets the requirements of paragraphs (2) and (3) of this subsection. ``(2) Area requirements.--For purposes of paragraph (1), a nominated area meets the requirements of this paragraph if-- ``(A) the area is within the jurisdiction of one or more local governments, ``(B) the boundary of the area is continuous, and ``(C) the area does not include an empowerment zone (as defined in section 1393(b)) other than such a zone designated under section 1391(g). ``(3) Eligibility requirements.--For purposes of paragraph (1), a nominated area meets the requirements of this paragraph if the State and the local governments in which it is located certify that the nominated area satisfies such conditions as the Secretary of Education deems appropriate. ``(4) Consideration of dropout rate, etc.--The Secretary of Education, in setting forth the conditions for eligibility pursuant to paragraph (3), shall take into account the extent to which an area has low-income families, a high dropout rate, a high rate of teen pregnancy, and large school class sizes. ``(d) Coordination With Treatment of Enterprise Communities.--For purposes of this title, if there are in effect with respect to the same area both-- ``(1) a designation as an educational empowerment zone, and ``(2) a designation as an enterprise community, both of such designations shall be given full effect with respect to such area. ``(e) Definitions and Special Rules.--For purposes of this subchapter, rules similar to the rules of paragraphs (2), (3), (5), and (7) of section 1393 shall apply.''. (b) Clerical Amendment.--The table of subchapters for chapter 1 is amended by adding at the end the following new item: ``Subchapter X. Educational Empowerment Zones.'' SEC. 3. CREDIT FOR DONATIONS TO SCHOOL DISTRICTS IN EDUCATIONAL EMPOWERMENT ZONES. (a) In General.--Subpart B of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 30A the following new section: ``SEC. 30B. CONTRIBUTIONS TO SCHOOL DISTRICTS IN EDUCATIONAL EMPOWERMENT ZONES. ``(a) Allowance of Credit.--There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the amount of qualified educational empowerment zone contributions made by the taxpayer during such year. ``(b) Maximum Credit.--The amount of the credit allowed by subsection (a)-- ``(1) in the case of an individual, shall not exceed $2,000, and ``(2) in the case of any other taxpayer, shall not exceed $10,000. ``(c) Definition of Qualified Educational Empowerment Zone Contributions.--For purposes of this section, the term `qualified educational empowerment zone contributions' means cash contributions made to any school district located in an educational empowerment zone (as designated under section 1400E) if such contributions-- ``(1) but for subsection (d), would be allowable as a deduction under section 170, and ``(2) are used for any of the following purposes by the school district: ``(A) Hiring new teachers. ``(B) Increasing teacher salaries. ``(C) Training teachers. ``(d) Denial of Double Benefit.--No deduction shall be allowed under this chapter for any contribution taken into account in computing the credit under this section. ``(e) Election.--This section shall apply to any taxpayer for any taxable year only if such taxpayer elects (at such time and in such manner as the Secretary may by regulations prescribe) to have this section apply for such taxable year. ``(f) Application With Other Credits; Carryover of Excess Credit.-- The credit allowed by subsection (a) for any taxable year shall not exceed the excess (if any) of-- ``(1) the regular tax for the taxable year reduced by the sum of the credits allowable under subpart A and the preceding sections of this subpart, over ``(2) the tentative minimum tax for the taxable year. If the credit under subsection (a) exceeds the limitation of the preceding sentence, such excess shall be added to the credit allowable under subsection (a) for the succeeding taxable year.''. (b) Clerical Amendment.--The table of sections for subpart B of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 30A the following new item: ``Sec. 30B. Contributions to school districts in educational empowerment zones.'' (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2000. SEC. 4. TEACHER LOAN FORGIVENESS PROGRAM. Part B of title IV of the Higher Education Act of 1965 is amended by inserting after section 428K (20 U.S.C. 1078-11) the following new section: ``SEC. 428L. LOAN FORGIVENESS FOR MATHEMATICS AND SCIENCE TEACHERS. ``(a) Purpose.--It is the purpose of this section to encourage more individuals to enter and stay in the field of teaching mathematics, science, and related fields. ``(b) Program.-- ``(1) In general.--The Secretary shall carry out a program of assuming the obligation to repay, pursuant to subsection (c), a loan made, insured, or guaranteed under this part or part D (excluding loans made under sections 428B and 428C or comparable loans made under part D) for any new borrower after October 1, 1998, who-- ``(A) has been employed as a full-time teacher for 3 consecutive complete school years in a school that is located in an educational empowerment zone, as such term is defined in section 1400E of the Internal Revenue Code of 1986; ``(B) is a fully qualified teacher; and ``(C) is not in default on a loan for which the borrower seeks forgiveness. ``(2) Award basis; priority.-- ``(A) Award basis.--Subject to subparagraph (B), loan repayment under this section shall be on a first- come, first-served basis and subject to the availability of appropriations. ``(B) Priority.--The Secretary shall give priority in providing loan repayment under this section for a fiscal year to student borrowers who received loan repayment under this section for the preceding fiscal year. ``(3) Regulations.--The Secretary is authorized to prescribe such regulations as may be necessary to carry out the provisions of this section. ``(c) Loan Repayment.-- ``(1) Eligible amount.--The amount the Secretary may repay on behalf of any individual under this section shall not exceed-- ``(A) 80 percent of the sum of the principal amounts outstanding of the individual's qualifying loans at the end of 3 consecutive complete school years of service described in subsection (b)(1)(A); ``(B) an additional 10 percent of such sum at the end of each of the next 2 consecutive complete school years of such service; and ``(C) a total of more than $10,000. ``(2) Construction.--Nothing in this section shall be construed to authorize the refunding of any repayment of a loan made under this part or part D. ``(3) Interest.--If a portion of a loan is repaid by the Secretary under this section for any year, the proportionate amount of interest on such loan which accrues for such year shall be repaid by the Secretary. ``(4) Double benefits prohibited.--No borrower may, for the same service, receive a benefit under both this section and subtitle D of title I of the National and Community Service Act of 1990 (42 U.S.C. 12601 et seq.). No borrower may receive a reduction of loan obligations under both this section and section 428J or 460. ``(d) Repayment to Eligible Lenders.--The Secretary shall pay to each eligible lender or holder for each fiscal year an amount equal to the aggregate amount of loans which are subject to repayment pursuant to this section for such year. ``(e) Application for Repayment.--
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